Acasti Pharma Reports Its Second Quarter Results
17 10월 2012 - 9:00PM
Acasti Pharma ("Acasti" or the "Corporation") (TSX.V.APO), a
Neptune Technologies & Bioressources Inc. ("Neptune")
subsidiary, reports the highlights of its financial results for the
second quarter, ended August 31, 2012.
Financial Results Highlights – Three-month
period
- During the three-month period ended August 31, 2012 Acasti
generated revenues of $237,000 from sales of Onemia™, while Acasti
did not generate revenues from sales during the corresponding
period of 2011.
- Research and development expenses for the three-month period
ended August 31, 2012, amounted to $761,000 compared to $904,000
for the corresponding period of 2011.
- Adjusted EBITDA for the three-month period ended August 31,
2012 was negative $1,037,000, compared to negative $1,254,000
obtained during the corresponding period of 2011.
- Net loss amounted to $1,752,000, or $0.02 per share for the
three-month period ended August 31, 2012 compared to $1,724,000, or
$0.03 per share, for the corresponding period of 2011.
Financial Results Highlights – Six-month
period
- During the six-month period ended August 31, 2012 Acasti
generated revenues of $251,000 from sales of Onemia™, while Acasti
did not generate revenues from sales during the corresponding
period of 2011.
- Research and development expenses for the six-month period
ended August 31, 2012, amounted to $1,321,000 compared to
$1,356,000 for the corresponding period of 2011.
- Adjusted EBITDA for the six-month period ended August 31, 2012
was negative $1,953,000, compared to negative $1,947,000 obtained
during the corresponding period of 2011.
- Net loss amounted to $3,328,000, or $0.05 per share for the
six-month period ended August 31, 2012 compared to $2,747,000, or
$0.04 per share, for the corresponding period of 2011.
"This is Acasti's first quarter with tangible revenues from US
sales of OnemiaTM on the medical food market from distribution
through a nation-wide sales network. While generating revenues from
sales of OnemiaTM is an important part of Acasti's business plan,
the management's main focus remains CaPre®'s research &
development program. Increasing revenues from Onemia™ over
the next few years will alleviate the burden of CaPre®'s research
& development expenses on the Corporation's cash
flow. Acasti's current cash position is sufficient to conduct
its two current phase II clinical trials, with more than $ 5M on
hand," stated Xavier Harland, CFO. "Moreover, Neptune's recent
financing may also provide additional backup liquidity for further
needs," he added.
About Acasti Pharma Inc.
Acasti Pharma is developing a product portfolio of proprietary
novel long-chain omega-3 phospholipids. Phospholipids are the major
component of cell membranes and are essential for all vital cell
processes. They are one of the principal constituents of High
Density Lipoprotein (good cholesterol) and, as such, play an
important role in modulating cholesterol efflux. Acasti Pharma's
proprietary novel phospholipids carry and functionalize the
polyunsaturated omega-3 fatty acids EPA and DHA, which have been
shown to have substantial health benefits and which are stabilized
by potent antioxidants. Acasti Pharma is focusing initially on
treatments for chronic cardiovascular and cardiometabolic
conditions within the over-the-counter, medical food and
prescription drug markets.
About Neptune Technologies & Bioressources
Inc. (Nasdaq:NEPT) – (TSX.V.NTB)
Neptune is an industry-recognized leader in the innovation,
production and formulation of science-based and clinically proven
novel phospholipid products for the nutraceutical and
pharmaceutical markets. The Company focuses on growing consumer
health markets including cardiovascular, inflammatory and
neurological diseases driven by consumers taking a more proactive
approach to managing health and preventing disease. The Company
sponsors clinical trials aimed to demonstrate its product health
benefits and to obtain regulatory approval for label health claims.
Neptune is continuously expanding its intellectual property
portfolio as well as clinical studies and regulatory approvals.
Neptune's products are marketed and distributed in over 20
countries worldwide.
"Neither Nasdaq nor the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release."
Statements in this press release that are not statements of
historical or current fact constitute "forward-looking statements"
within the meaning of the U.S. Private Securities Litigation
Reform Act of 1995 and Canadian securities laws. Such
forward-looking statements involve known and unknown risks,
uncertainties, and other unknown factors that could cause the
actual results of the Company to be materially different from
historical results or from any future results expressed or
implied by such forward-looking statements. In addition to
statements which explicitly describe such risks and uncertainties,
readers are urged to consider statements labeled with the
terms "believes," "belief," "expects," "intends," "anticipates,"
"will," or "plans" to be uncertain and forward-looking. The
forward-looking statements contained herein are also subject
generally to other risks and uncertainties that are described
from time to time in the Company's reports filed with the
Securities and Exchange Commission and the Canadian
securities commissions.
CONTACT: Acasti Contact:
Henri Harland
President & CEO
+1 450.687.2262
h.harland@neptunebiotech.com
www.acastipharma.com
Xavier Harland
Chief Financial Officer
+1.450.687.2262
x.harland@acastipharma.com
www.acastipharma.com
Howard Group Contact:
Dave Burwell
(888) 221-0915
dave@howardgroupinc.com
www.howardgroupinc.com
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